Tag: North Carolina homeowners insurance

Homeowners insurance rate hike to face the public at a hearing

Insurance Commissioner Wayne Goodwin - Homeowners Insurance

The state commissioner has requested that insurers not raise prices until after the meeting. Wayne Goodwin, the commissioner for North Carolina, has stated that any decision regarding increases in homeowners insurance rates will need to be held off until after June 3, 2013, when a public hearing has been set. The commissioner is seeking the public’s insight before potentially massive increases occur. According to Goodwin, he and his staff worked throughout the weekend, on top of a great deal of overtime that they have already been putting in, in order…

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Homeowners insurance could rise by 18 percent in North Carolina

North Carolina Homeowners Insurance Rates

The state commissioner is currently considering this increase, which some agents are calling necessary. Homeowners insurance customers could soon find that their premiums are headed strikingly upward in North Carolina, as the commissioner considers a price hike by an average of 18 percent. Many customers are saying that this is an additional financial burden that is making the coverage unaffordable. Many residents of the state are very upset and feel that an increase of this size is unfair and could make their homeowners insurance cost prohibitive. The average annual rate…

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Homeowners insurance in North Carolina may be getting more expensive

Marc
homeowners insurance

Homeowners insurance rate increase proposal coming from state insurers Homeowners in North Carolina may soon see their insurance rates jump if insurers are granted approval for proposed rate hikes. Many of the state’s insurance companies are looking to raise rates on homeowners insurance coverage to account for several risk factors that companies believe consumers are confronted with. Homeowners insurance in North Carolina has been a tricky subject recently, with many insurance companies looking to mitigate their exposure to the risks associated with powerful natural disasters, which have caused some havoc…

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Allstate to drop policies for homeowners that have not bundled their auto insurance policies. Other insurers may follow example

Nordstrom

In North Carolina, some 70,000 homeowners are on the verge of losing their insurance coverage if they do not purchase auto insurance from Allstate. The large insurer announced last year that it would be dropping customers who did not bundle their property and auto insurance together through the company. Allstate’s plan affects nearly 50,000 consumers throughout the state, but the North Carolina Farm Bureau Mutual Insurance Co., the third largest property insurer in the state, is following Allstate’s example and may drop roughly 20,000 policyholders if they do not get…

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UPCIC writes its first Georgia homeowners insurance policies

Nordstrom

Universal Insurance Holdings, Inc., has announced that its Universal Property and Casualty Insurance Company (UPCIC) subsidiary has now written its first Georgia homeowners’ insurance policies for an official start within that state. Chief operating officer of the vertically integrated insurance holding company, Sean Downes, said that the entrance of UPCIC into the homeowners’ marketplace in Georgia “marks the fifth state where UPCIC conducts business and continues our expansion beyond Florida.” He added that the insurer is anticipates a strong expansion of its network of agents within that state, as well…

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